Gold Ends Above 6.3-Year High; Silver Settles at 14-Month High

by CoinNews.net on August 14, 2019 · 1 comment

Gold and Silver Bullion, Gold Nugget

Gold futures finished at their best level since April 11, 2013

Gold and silver futures rallied Wednesday as safe-havens ignited. The yellow metal scored its best close since early 2013 and silver logged its strongest finish since mid-2018.

Gold for December delivery tacked on $13.70, or 0.9%, to close at $1,527.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 11, 2013 when gold ended at $1,564.90 an ounce.

"Safe-haven demand continues to be featured for the two precious metals [gold and silver] at mid-week, amid heightened concerns about slowing world economic growth," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "Geopolitics also remains close to the front burner of the marketplace, which is also supporting gold and silver."

Gold futures ranged from a low of $1,504.50 to a high of $1,534.90. They lost 0.2% on Tuesday and rose 0.6% on Monday.

Silver for September delivery surged 29.5 cents, or 1.7%, to finish at $17.28 an ounce. The settlement was the highest since June 14, 2018 when silver ended at $17.262 an ounce.

Silver futures traded between $16.85 and $17.31. They shed 0.5% on Tuesday and gained 0.8% on Monday.

In PGM futures Wednesday:

  • October platinum dropped $11.70, or 1.4%, to $848 an ounce, ranging from $846.50 to $858.40.

  • Palladium for September fell $35.10, or 2.4%, to $1,416.40 an ounce, trading between $1,412 and $1,449.40.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:

  • Gold rose $14.85, or 1%, to $1,513.25 an ounce.
  • Silver declined 33 cents, or 1.9%, to $17.115 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint 2019 Bullion Sales

United States Mint bullion sales were unchanged Wednesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Wednesday Last Week This Week July August 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 1,000 1,500 2,500 2,500 83,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 3,000 1,000 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 28,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 15,000 0 160,000
$50 American Buffalo 1 Oz Gold Coin 0 500 0 500 1,000 49,000
$1 American Eagle 1 Oz Silver Coin 0 0 92,000 1,240,000 92,000 11,354,000
War in the Pacific 5 Oz Silver Coin 0 0 0 57,000 8,000 65,000
American Memorial Park 5 Oz Silver Coin 0 0 0 0 0 78,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

 

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